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Nigeria asks World Bank for $5.2 billion for power generation

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Nigeria is seeking $5.2b from the World Bank to expand electricity generation and help the economy recover. The bank's private-sector lending arm, the International Finance Corporation, may invest about 1-point-3 billion dollars in power projects and electricity distribution companies. It could also provide Nigeria with equity and debt of 1-point-4 billion dollars for gas and solar power programmes. That's in addition to loans Nigeria is already seeking from the World Bank to help improve the distribution of power, expand transmission capacity and increase access to electricity in rural areas.Subscribe to us on YouTube: http://ow.ly/Zvqj30aIsgYFollow us on:Facebook: https://www.facebook.com/cgtnafrica/Twitter: https://twitter.com/cgtnafrica

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Africa News CGTN Africa Nigeria World Bank economy International Finance Corporation
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